We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as freight rates haven't had that necessary push to jumpstart. According to the latest monthly report from shipbroker Intermodal, "this has been reflected in the continuous drop in price for the commodity which was on an almost free-fall course from its latest price peak of $158.9 per dry ton reached on the 20th of February. The significantly slower economic momentum of China has slashed demand for this development-linked commodity, dragging both the price as well as the freight cost to multi-month lows. This is set to continue for most of the year, with destocking still a central strategy in China", the report said.
According to Mr. George Lazaridis, Research Analyst with Intermodal, "the industry view tends to be that for the long-run, even these bottom-of-the-cycle prices are much higher than what most analysts believe should be the prevailing level. This leads to an expectation of surplus production which eventually could lead to problems in ship-ping, as sources such as South Africa increase their stake in China’s iron ore imports, slashing in turn tonne-mile demand for Capes.
The question that is of more vital importance and an ongoing topic of conversation this year amongst shipping circles is; When can we expect an improvement in market fundamentals?
The answer is looking somewhat more worrying for Capes. It will take a lot more than just cheap commodity prices to get things going again. The Chinese slowdown does not seem to be a temporary hiccup and as such people should be taking it more serious", he noted.
With China accounting last year for 47% of global steel production, there is no debate as to who drives the demand for Capes. "Being heavily dependent on Chinese heavy industry production and investment in infrastructure any further slowdown in economic growth has an imminent impact on freight rates for this sector. Without this driving demand it is hard for this segment to see the sharp rise in freight rates and secondhand prices that many had hoped we would reach within this year. Nevertheless it’s not all black. Baosteel sees a 1-2 pct increase in Chinese steel production this year. The year-to-date increase in output of 7% shows a promise for improved markets in the final quarter, while at the same time it would take a substantial slow-down in output in the second-half for there to be a year-on-year drop in Chinese steel output", Lazaridis said.
With all the above in mind a few questions arise, like for instance, where is the basis for all this business being reported in the Capesize market? Is there a sense that previous bullish sentiment for this size group is leading new investment without there being a real demand for further fleet growth? Could this lead to further dragging out of sub-performing markets?
According to Lazaridis' viewpoint, "over the past couple of months we have seen the majority of trading sessions being reported at average freight figures bellow what is expected for most owners to cover OPEX. Even on some of the more positive trading days, TCE increases are temporary and usually attributed to momentary decreases in bunker costs as well as slow steaming throughout the fleet which helps increase what little extra earnings owners can squeeze out of the current market rates. The counter argument to this can be found in part in the wisdom of old. Through most shipping cycles owners have usually taken a long-term position hoping to make high gains through the cycle rather than only looking to act during periods where the market is on the rise. If they waited for the later we would not have any ship owners left. This may explain activity in the secondhand market however things are very different when it comes to newbuildings. Capesize newbuilding designs have not had the same overhaul in performance that we have seen in other size segments. So why are owner’s risking of drowning the market with further ordering when there are plenty of well-priced secondhand units available. It seems to be yet again the case of easier financing, respectively lower prices, easi-er payment terms and forward delivery that have the upside of even gaining in value before you have made full payment. As promising as all these sound to a potential buyer, a word of caution to the brave, “as you sow, so shall you reap”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
|
|
|
Showing 11 to 15 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
|
| |
| |
|
